Prime absolute waterfront properties in Australia are worth up to 63% more than their inland counterparts on average.
The Prime Waterfront Index measures how much uplift value an absolute waterfront location can add to a property.
When examining this premium across Australia, prime waterfront properties are worth an average of 63% more than their inland counterparts.
The very best waterfront homes on the Gold Coast commanded premiums up to 66.5% in Q3 2019 (up from 64.1% in Q3 2018), Perth saw uplift of 53.6% (similar to one year ago) while Brisbane recorded 45.1%. This was the first year Brisbane was included in the index.
Melbourne bucked this trend, falling from 30.4% to 27.3% - waterside living not as desirable as being well-located to private schools and traditional shopping villages.
The demand for super-prime waterfront property comes from a variety of buyers, ranging from an emotional purchase, to a sole financial purpose given waterfront properties are generally the most liquid within each market.
Such locations benefit from their appeal to families upsizing, and downsizers often moving within the local area or seeking a lifestyle change, also the attractiveness as second home.
Further analysing the absolute waterfront super-prime sales over the year to Q3 2019, found that 46% had exclusive access to maritime facilities including a mooring, jetty, pontoon or slipway.